The latest of a wave of new luxury residences in Boston is about to open. Located in Bay Village at 100 Arlington Street, this location was the former home to the Renaissance Charter School, yet has now been transformed into a spectacular residential address. The month of March has been set to be the moment when the leasing of these upscale units will hit the market as the developers at the Boston-based Congress Group and New York-based Related Cos. have just announced.
The $100 Million transformation project initially was planned to turn the existing building into first-rate office space. However, the developers soon realized that given the over six million square feet of vacant office space in Bostons Downtown, yet the riding demand for apartments, it made far more business sense to go with converting 100 Arlington Street into residential spaces.
The Congress Group purchased the building back in 2010 for $45 Million, yet decided that in 2012 they needed another partner in the venture. Hence, the aforementioned firm out of New York, known as Related Cos., were brought into the fold when they bought a $30 Million interest in the project. Going forward, it will be those at Related Cos. who will oversee the leasing and onward management of the facility.
The rents in The Arlington are going to be competitive with some of the top places to live all throughout the Hub, and for good reason. From featuring oak hardwood floors, to polished marble countertops, to custom bathrooms and kitchens with wood cabinetry, to spacious closets, contemporary lighting fixtures, stainless steel appliances, washer/dryer access in all units, and much more, there is nothing spared when it comes to luxurious living at The Arlington.
The incredible floor plans and top class finishes seen throughout these 128 units will command at least $3,200/month for a one bedroom, and $6,200/month for a two bedroom apartment. Patrick Sweeney, the Senior Vice President at Related Cos., noted that, We went through a lot of effort to preserve the historic character of the building and to create a luxurious living experience where youre not dealing with living in an almost 100-year-old building.
Technically in the Bay Village neighborhood, yet truly on the border of the Bay Village, Back Bay, and South End, The Arlington at the corner of Arlington and Stuart Streets is sure to be a classic residential landmark within the city of Boston for years to come.
More Information: Boston Business Journal